APE Takes A Beating As It Sheds 50% Of Its Price
08 Maggio 2022 - 02:23PM
NEWSBTC
APE must cling tight, or else it falls and suffer a major “injury.”
Non-fungible tokens and the metaverse are no longer merely
buzzwords in the cryptocurrency industry. In 2021 alone, the market
for NFTs was valued at $40 billion, a tremendous increase from the
previous year. This market has continued to expand this year with
the emergence of new NFT marketplaces. We also observed a new coin
— ApeCoin — causing a sector-wide ruckus in tandem with this
expansion. Suggested Reading | Moonbirds And Solana NFT Trading
Volume Is On A Tear As Sales Rally 45% ApeCoin still makes a lot of
noise, despite suffering losses in the market. (DailyCoin) ApeCoin
is a recently-launched cryptocurrency on the Ethereum (ETH)
network. The coin is the native cryptocurrency of the APE
ecosystem, which consists of the ApeCoin DAO and all APE-based
services and goods. The developer of the renowned Bored Ape Yacht
Club (BAYC) NFT collections, Yuga Labs, has selected APE as the
principal token for all new products and services. Despite being
the newest cryptocurrency on the market as of April of this year,
its market capitalization ranks 47th, at $3.445 billion. Suggested
Reading | Bitcoin Collapses By Most In Nearly A Month – Its Golden
Days Are Over? APE Drops Hard From ATH APE reached an all-time high
of $28 at the conclusion of April. But on May 2, 2022, just days
after reaching its ATH, the token plunged and reached a low of
$16.71. Given the media attention that ApeCoin is already
garnering, if the price continues to grow, this token might become
one of the finest cryptocurrencies in 2022. APE total market cap at
$3.445 billion on the weekend chart | Source: TradingView.com
However, in contrast, APE’s price has dropped significantly during
the past week, by approximately 50.42 percent. APE’s daily trade
volume has also reduced by double digits, falling by approximately
40 percent. The price of APE is getting closer to its 24-hour low.
It has a 24-hour high of $13.70 and a low of $12.28. Losing Steam
Vs. BTC And ETH As of Sunday midday, the price of APE has declined
versus Bitcoin (BTC) and Ethereum (ETH) by around 7.50 percent and
6.30 percent, respectively. APE is currently valued around
0.0003453 BTC and 0.004644 ETH. There are a total of 1 billion APE
tokens, and 15% of the token supply is allocated to NFT holders. In
addition, about 48 percent of the total supply will be distributed
to the DAO’s treasury over the course of 48 months. The stock price
of ApeCoin began on March 17 at $5 and increased by more than 250
percent within the first 48 hours of trade. After reaching $18, APE
pulled back little and is now returning to re-evaluate this region.
Featured image NMK World, chart from TradingView.com
Grafico Azioni ApeCoin (COIN:APEUSD)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni ApeCoin (COIN:APEUSD)
Storico
Da Mar 2023 a Mar 2024